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Bitcoin broke above its 365-day moving average on September 22, which AltcoinPro Research believes could signal a bullish trend.
Bitcoin's price broke above its 365-day rolling simple moving average (approximately $80,900) for the first time on September 22, marking the first such occurrence in 310 days. AltcoinPro Research noted that in the past five similar breakthroughs, Bitcoin recorded gains ranging from 59% to 1400% within 12 months, though there have been instances of failure. The firm believes a more significant signal is whether Bitcoin can sustain above its 200-day moving average (approximately $70,800), which Bitcoin surpassed in mid-August and is currently about 19% above.
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Disclaimer: This content reflects the author's personal views only and does not constitute investment advice.
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